You didn't expect Wall Street to just sit by and let the Obama administration levy a new tax against it, did you? Of course not. So you won't be surprised to learn that the Securities Industry and Financial Markets Association, the big Wall Street lobbying group, has hired a Supreme Court lawyer to look into whether the proposed tax is unconstitutional. The group is prepared to argue that the tax violates the constitution by singling out big banks. The tax would affect 50 of Wall Street's biggest firms and raise about $90 billion for the government over the next decade. Or at least that the government's line. It will probably end up costing us, not the banks. So maybe, for once, we should be rooting for the banks. It feels so wrong.
Photo: Getty Images
- 1. Fact-Checking the Age-Old Rumors of Walt Disney’s Dark Side
- 2. The Dumbest GIFs From the Victoria’s Secret TV Special
- 3. All the Snubs and Surprises From the 2014 Golden Globe Nominations
- 4. Guy Doing Sign Language at Mandela Memorial Was Actually Just Waving His Arms Around
- 5. Megyn Kelly Believes in (White) Santa
- 6. Rashida Jones Was a Whore Between 2007 and 2011
- 7. The Best, Worst, & Sheerest Fashion Moments of 2013
- 8. Why Adult Women Squeal Like Teenage Girls Sometimes
- 9. The 2014 Golden Globe Nominations Are Here!